Have Insiders Sold Tucows Shares Recently?

We note that the Tucows Inc. (NASDAQ:TCX) President, Elliot Noss, recently sold US$65k worth of stock for US$20.38 per share. However we note that the sale only shrunk their holding by 0.6%.

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Tucows Insider Transactions Over The Last Year

In fact, the recent sale by Elliot Noss was the biggest sale of Tucows shares made by an insider individual in the last twelve months, according to our records. That means that an insider was selling shares at below the current price (US$20.52). As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. This single sale was just 0.6% of Elliot Noss's stake.

Elliot Noss divested 7.20k shares over the last 12 months at an average price of US$17.99. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

View our latest analysis for Tucows

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Insider Ownership

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. It appears that Tucows insiders own 20% of the company, worth about US$45m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

What Might The Insider Transactions At Tucows Tell Us?

An insider sold Tucows shares recently, but they didn't buy any. And there weren't any purchases to give us comfort, over the last year. Insiders own shares, but we're still pretty cautious, given the history of sales. So we'd only buy after careful consideration. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Tucows. At Simply Wall St, we've found that Tucows has 4 warning signs (3 are concerning!) that deserve your attention before going any further with your analysis.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.